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A building contractor pays $500 to bid on a contract. If he gets the contract, the probability of which he estimates to be 0.70, he will make a profit of $50,000. On the other hand, if he does not get the contract, he forfeits his $500. Find the contractor's expected net profit.
95% confidence interval evaluate for proportion of Americans who believe Abraham Lincoln is United States' most outstanding President is 65% to 75%. If more precise estimate is requested, then confidence level.
Which of the variables below do you think will be roughly normally distributed? Please select all that apply.
I need to make a perfect positive linear correlation scatter diagram. Could you please outline this procedure so that I can continue to make other scatter diagrams
Determine the upper control limit (UCL) and lower control limit (LCL) for an X-Bar chart if six samples of subgroup size 5 (n=5) were collected, and the mean of the sample averages is 4.7 and mean of the sample ranges is 0.35.
The profit from selling food at an outdoor cafe depends on the number of hours of sunshine through the formula, Profit = 1000(1-(e -x /10)). Find the expected level of profit.
Construct the following confidence intervals for your data set:
Divide your data in half, your first 8 observations and your last 7 observations. Then use ANOVA to test to see if there is a significant difference between the two halves of your data. This list of Webpages that Perform Statistical Calculations h..
A store manager wishes to find out whether there is a relationship between the age of her employees and the number of sick days they take each year. The data for the sample are shown below:
A market researcher wants to find the 99% Confidence Interval for the average number of hours people spend online each day.
If the alpha level is changed from a = .05 to a = .01, (a) What happens to the boundaries for the critical regions? (b) What happens to the probability of a type I error?
Karefree State University has an enrollment of 18,000. Researchers took a sample of 900 and found 477 students wanted a Field Hockey team. Construct the 95% and 99% Interval estimates for the population proportion.
What are the main differences between descriptive and inferential statistics? Give examples of each. When would random sampling not be the best approach to sample selection? Give an example.
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